E-commerce giant Shopify has shut down Kanye West’s Yeezy clothing website, citing violations of its terms of service. Watch this report for more details!

Shopify shutters Kanye West's Yeezy website

Kanye West, the controversial rapper and fashion mogul, is once again at the centre of scandalous headlines since his ex-employee filed a bombshell lawsuit against him in Los Angeles on Tuesday. Yeezy's ex-employee, Trevor Phillips, has accused West of making inappropriate sexual remarks and exhibiting lewd behaviour around his colleagues.

According to the complaint, West allegedly showed naked photos of one of his female friends to the staff and simulated sexual activity during a meeting at the Nobu Hotel in Malibu, California.&nbsp;

According to PageSix, Phillips claims that West boasted about his past sexual exploits, stating, "I used to have orgies every day – at least two-to-three girls. And now, man, I can’t even lay down without jacking off."

The lawsuit further alleges that West "Facetimed" a friend and instructed her to wear lingerie and shoes he bought for her. Phillips claims he recognised the friend's name because West had shown nude photos of her to Yeezy members just weeks before.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-michelle-obama-calls-beyonce-history-maker-as-she-praises-cowboy-carter-707761">Michelle Obama calls Beyonce 'history-maker' as she praises Cowboy Carter</a>

Additionally, the lawsuit accuses West of making lewd gestures resembling masturbation and engaging in inappropriate behaviour in front of employees.

According to the publication, the lawsuit claims, “Kanye lay on the bed and made motions with his hand just above his genitals, resembling masturbation."

Trevor further claims in the lawsuit, "He (Kanye West) used his second hand to forcefully and dramatically grab and pull the hand making gestures, as he said: 'I got to keep my hand away from my phone to keep me away from looking at pornos'."

Phillips, who was hired to work for West's fashion line Yeezy and Donda Academy, also claims that West exhibited discriminatory behaviour, treating Black staff considerably worse than white employees. He alleges that West would scream and berate Black employees while showing preferential treatment to white staff.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/conan-obrien-will-be-a-guest-on-the-tonight-show-14-years-after-his-acrimonious-exit-707880">Conan O’Brien will be a guest on The Tonight Show, 14 years after his acrimonious exit</a>

The lawsuit paints a disturbing picture of West's behaviour, alleging that he threatened to punch Phillips during a "temper tantrum" and later fired him without a proper explanation.&nbsp;

West is yet to respond publicly to the allegations made in the lawsuit.&nbsp;

Kanye West, the controversial rapper and fashion mogul, is once again at the centre of scandalous headlines since his ex-employee filed a bombshell lawsuit against him in Los Angeles on Tuesday.

Kanye West, the controversial rapper and fashion mogul, is once again at the centre of scandalous headlines since his ex-employee filed a bombshell lawsuit against him in Los Angeles on Tuesday. Yeezy's ex-employee, Trevor Phillips, has accused West of making inappropriate sexual remarks and exhibiting lewd behaviour around his colleagues. According to the complaint, West allegedly showed naked photos of one of his female friends to the staff and simulated sexual activity during a meeting at the Nobu Hotel in Malibu, California. According to PageSix, Phillips claims that West boasted about his past sexual exploits, stating, "I used to have orgies every day – at least two-to-three girls. And now, man, I can’t even lay down without jacking off." The lawsuit further alleges that West "Facetimed" a friend and instructed her to wear lingerie and shoes he bought for her. Phillips claims he recognised the friend's name because West had shown nude photos of her to Yeezy members just weeks before. Also read: Michelle Obama calls Beyonce 'history-maker' as she praises Cowboy Carter Additionally, the lawsuit accuses West of making lewd gestures resembling masturbation and engaging in inappropriate behaviour in front of employees. According to the publication, the lawsuit claims, “Kanye lay on the bed and made motions with his hand just above his genitals, resembling masturbation." Trevor further claims in the lawsuit, "He (Kanye West) used his second hand to forcefully and dramatically grab and pull the hand making gestures, as he said: 'I got to keep my hand away from my phone to keep me away from looking at pornos'." Phillips, who was hired to work for West's fashion line Yeezy and Donda Academy, also claims that West exhibited discriminatory behaviour, treating Black staff considerably worse than white employees. He alleges that West would scream and berate Black employees while showing preferential treatment to white staff. Also read: Conan O’Brien will be a guest on The Tonight Show, 14 years after his acrimonious exit The lawsuit paints a disturbing picture of West's behaviour, alleging that he threatened to punch Phillips during a "temper tantrum" and later fired him without a proper explanation. West is yet to respond publicly to the allegations made in the lawsuit.

Shocking! Kanye West sued for workplace abuse, lewd behaviour and bragging about orgies

Kanye West aka Ye is once again stirring the pot with his latest footwear creation. The recent launch of his YZY POD shoes has sparked a storm of criticism, with fans aiming at the shoe’s striking resemblance to socks and its high price tag.

In a social media announcement, West introduced the YZY POD as the "foldable future of footwear," with a pre-sale price tag of $200, urging fans to "accept no imitations." However, this bold move was met with sharp backlash from fans.

"YE $200 for a sock is crazy," said one user, while others humorously questioned whether the price was for a single sock or a pair.&nbsp;

"Who is paying [$200] for a pair of socks lol," another wrote.

Criticism also extended to the unconventional sizing offered by West, featuring sizes 1, 2, and 3 for the "foldable" shoes, leaving consumers baffled and seeking clarification on how these sizes corresponded to standard measurements.

"What does size 1 2 3 mean?," a fan inquired, with another netizen tweeting, "I was deada** gonna order a pair but I need to know how the sizes work. Please break it down bru."

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Amidst the pricing and sizing chaos, representatives for West remained tight-lipped and didn't address the mounting queries and criticisms.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/barbie-director-greta-gerwig-makes-surprise-appearance-on-saturday-night-live-to-introduce-billie-eilish-670512">Barbie director Greta Gerwig makes surprise appearance on Saturday Night Live to introduce Billie Eilish</a>

Meanwhile, former YEEZY lawyer and Sneaker Law professor, Kenneth Anand, spoke to Page Six and defended West's pricing strategy, highlighting the costs associated with producing quality independent brand products. Anand suggested that West's pricing might actually be more reasonable compared to similar offerings from luxury brands like Vetements and Balenciaga, which retail at significantly higher prices.

"People who are criticizing the price on the Yeezy sock shoes may not understand the high cost of making quality products, especially for independent brands," Kenneth Anand stated. 
 
"By comparison, luxury brands Vetements and Balenciaga are both selling extremely similar, if not identical, sock shoes; the Yeezy models are cheaper by about $400 or more, so arguably Kanye could have raised his price."&nbsp;

This is West's first product drop since Adidas terminated his contract in October 2022 because of his antisemitic remarks. "Adidas does not tolerate antisemitism and any other sort of hate speech," the athletic company said at the time. "Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness."

Kanye West aka Ye is once again stirring the pot with his latest footwear creation. The recent launch of his YZY POD shoes has sparked a storm of criticism, with fans aiming at the shoe’s striking resemblance to socks and its high price tag.

Kanye West aka Ye is once again stirring the pot with his latest footwear creation. The recent launch of his YZY POD shoes has sparked a storm of criticism, with fans aiming at the shoe’s striking resemblance to socks and its high price tag. In a social media announcement, West introduced the YZY POD as the "foldable future of footwear," with a pre-sale price tag of $200, urging fans to "accept no imitations." However, this bold move was met with sharp backlash from fans. "YE $200 for a sock is crazy," said one user, while others humorously questioned whether the price was for a single sock or a pair. "Who is paying [$200] for a pair of socks lol," another wrote. Criticism also extended to the unconventional sizing offered by West, featuring sizes 1, 2, and 3 for the "foldable" shoes, leaving consumers baffled and seeking clarification on how these sizes corresponded to standard measurements. "What does size 1 2 3 mean?," a fan inquired, with another netizen tweeting, "I was deada** gonna order a pair but I need to know how the sizes work. Please break it down bru." Amidst the pricing and sizing chaos, representatives for West remained tight-lipped and didn't address the mounting queries and criticisms. Also read: Barbie director Greta Gerwig makes surprise appearance on Saturday Night Live to introduce Billie Eilish Meanwhile, former YEEZY lawyer and Sneaker Law professor, Kenneth Anand, spoke to Page Six and defended West's pricing strategy, highlighting the costs associated with producing quality independent brand products. Anand suggested that West's pricing might actually be more reasonable compared to similar offerings from luxury brands like Vetements and Balenciaga, which retail at significantly higher prices. "People who are criticizing the price on the Yeezy sock shoes may not understand the high cost of making quality products, especially for independent brands," Kenneth Anand stated. "By comparison, luxury brands Vetements and Balenciaga are both selling extremely similar, if not identical, sock shoes; the Yeezy models are cheaper by about $400 or more, so arguably Kanye could have raised his price." This is West's first product drop since Adidas terminated his contract in October 2022 because of his antisemitic remarks. "Adidas does not tolerate antisemitism and any other sort of hate speech," the athletic company said at the time. "Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness."

Kanye West's infamous sock shoe worth $200 gets trolled online

After two quarters of losses, and the breakup with Kanye West last October Adidas is now back to making profits. This came after the German sportswear giant sold off a huge inventory of West's Yeezy merchandise.

Adidas & Kanye West split last October over his anti-semitic outbursts

After being hit by two-quarters of losses and after the breakup with Kanye West last October Adidas is now back to making profits. This is after the German sportswear giant sold off a huge inventory of West's Yeezy merchandise.

Adidas books profits as it sells off Kanye West's Yeezy inventory

Sportswear giant Adidas garnered success in its latest online sales campaign for the unsold inventory of Yeezy shoes, with orders surpassing $565 million for the initial batch, Financial Times reported. The overwhelming demand, totaling 4 million pairs across May and June, exceeded the company's expectations, resulting in temporary supply shortages. However, this achievement comes amid an ongoing legal battle between Adidas and rapper Kanye West, also known as Ye, over the alleged mishandling of a $100 million annual marketing fund. The dispute has led to arbitration, raising significant attention and speculation about the future of their former partnership.

The Yeezy Sales Triumph

Adidas received orders worth more than $565 million for its Yeezy shoes during the first phase of its online sales campaign. The extraordinary demand went contrary to the company's projections. The shoes, a result of Adidas' defunct partnership with rapper Kanye West, have maintained their popularity despite the dissolution of the collaboration in the previous year.

Dispute Over Marketing Funds

The legal feud between Adidas and Kanye West centers on a substantial $100 million annual marketing fund that Adidas had allocated to promote the Yeezy brand. Court documents indicate that Adidas transferred $75 million to two Yeezy bank accounts. However, Adidas alleges that the funds were misused by Kanye West and his associated companies for unauthorized purposes, contrary to the terms of their contract. The agreement specified that the marketing fund should remain separate from other funds, and any improper use would require reimbursement from Yeezy.

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Kanye West's Usage of Marketing Funds

Kanye West's disclosure in a 2020 interview about directing $50 million from the Yeezy marketing funds towards his 'Sunday Service' gospel choir tour raised further scrutiny. He asserted that the tour did not require additional advertising expenditure, though he did not explicitly clarify the source of the funds. The court filings have redacted the specific definition of appropriate marketing purposes, leaving room for interpretation and intensifying the legal dispute.

Adidas' Attempt to Reclaim Funds

Adidas sought to freeze the funds in court in May to retrieve the disputed sum. Despite facing initial setbacks, U.S. District Judge Valerie Caproni expressed optimism that Adidas could recover the money through the ongoing arbitration process.&nbsp;

In May, Adidas made headlines when it announced its intention to sell Yeezy shoes and donate the proceeds to organisations working against anti-Semitism and racism. The decision came in the wake of Kanye West's past controversial remarks, after which Adidas has been on damage control.

Future Implications

The dispute resolution between Adidas and Kanye West will undoubtedly influence the trajectory of the Yeezy brand and Adidas' engagement in fashion and sportswear. The immense popularity of Yeezy shoes remains undiminished, and despite the legal challenges, the brand continues to be a significant player in the sneaker market. This can be verified with the recent sale.

(With Inputs from Agencies)

Sportswear giant Adidas garnered success in its latest online sales campaign for the unsold inventory of Yeezy shoes, with orders surpassing $565 million for the initial batch, Financial Times reported.

Sportswear giant Adidas garnered success in its latest online sales campaign for the unsold inventory of Yeezy shoes, with orders surpassing $565 million for the initial batch, Financial Times reported. The overwhelming demand, totaling 4 million pairs across May and June, exceeded the company's expectations, resulting in temporary supply shortages. However, this achievement comes amid an ongoing legal battle between Adidas and rapper Kanye West, also known as Ye, over the alleged mishandling of a $100 million annual marketing fund. The dispute has led to arbitration, raising significant attention and speculation about the future of their former partnership. The Yeezy Sales Triumph Adidas received orders worth more than $565 million for its Yeezy shoes during the first phase of its online sales campaign. The extraordinary demand went contrary to the company's projections. The shoes, a result of Adidas' defunct partnership with rapper Kanye West, have maintained their popularity despite the dissolution of the collaboration in the previous year. Dispute Over Marketing Funds The legal feud between Adidas and Kanye West centers on a substantial $100 million annual marketing fund that Adidas had allocated to promote the Yeezy brand. Court documents indicate that Adidas transferred $75 million to two Yeezy bank accounts. However, Adidas alleges that the funds were misused by Kanye West and his associated companies for unauthorized purposes, contrary to the terms of their contract. The agreement specified that the marketing fund should remain separate from other funds, and any improper use would require reimbursement from Yeezy. WATCH WION LIVE HERE Kanye West's Usage of Marketing Funds Kanye West's disclosure in a 2020 interview about directing $50 million from the Yeezy marketing funds towards his 'Sunday Service' gospel choir tour raised further scrutiny. He asserted that the tour did not require additional advertising expenditure, though he did not explicitly clarify the source of the funds. The court filings have redacted the specific definition of appropriate marketing purposes, leaving room for interpretation and intensifying the legal dispute. Adidas' Attempt to Reclaim Funds Adidas sought to freeze the funds in court in May to retrieve the disputed sum. Despite facing initial setbacks, U.S. District Judge Valerie Caproni expressed optimism that Adidas could recover the money through the ongoing arbitration process. In May, Adidas made headlines when it announced its intention to sell Yeezy shoes and donate the proceeds to organisations working against anti-Semitism and racism. The decision came in the wake of Kanye West's past controversial remarks, after which Adidas has been on damage control. Future Implications The dispute resolution between Adidas and Kanye West will undoubtedly influence the trajectory of the Yeezy brand and Adidas' engagement in fashion and sportswear. The immense popularity of Yeezy shoes remains undiminished, and despite the legal challenges, the brand continues to be a significant player in the sneaker market. This can be verified with the recent sale. (With Inputs from Agencies)

Adidas' Yeezy Frenzy: $565 million worth of shoes fly-off shelves

On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month.

The proceeds will&nbsp;be donated to various anti-racism groups including the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise &amp; Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd, says the&nbsp;German sportswear giant.

"After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement. "Selling and donating was the preferred option among all organisations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it."

<blockquote class="twitter-tweet">
adidas Yeezy Page loaded on India site earlier today 
 
Restock could be going down June 2023 👀 <a href="https://t.co/WffeY7fYns">pic.twitter.com/WffeY7fYns</a>
— SneakerAlert (@SneakerAlertHD) <a href="https://twitter.com/SneakerAlertHD/status/1659287681350660097?ref_src=twsrc%5Etfw">May 18, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Ever since Adidas terminated&nbsp;its partnership with Ye, formerly known as Kanye West, in October 2022 because of his anti-semitic comments on social media and in interviews, Yeezy products have been unavailable to shoppers. This will be the first time since the incident the brand will restock the Yeezy collection.&nbsp;

The items to be sold on Adidas' website from May 31st include existing designs as well as designs that were in the works in 2022 for sale this year, the company said in the statement.

At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.

The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.

(With inputs from agencies)

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On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month.

On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month. The proceeds will be donated to various anti-racism groups including the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd, says the German sportswear giant. "After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement. "Selling and donating was the preferred option among all organisations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it." adidas Yeezy Page loaded on India site earlier today Restock could be going down June 2023 👀 pic.twitter.com/WffeY7fYns — SneakerAlert (@SneakerAlertHD) May 18, 2023 Ever since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 because of his anti-semitic comments on social media and in interviews, Yeezy products have been unavailable to shoppers. This will be the first time since the incident the brand will restock the Yeezy collection. The items to be sold on Adidas' website from May 31st include existing designs as well as designs that were in the works in 2022 for sale this year, the company said in the statement. At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said. The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas to start selling stockpile of Yeezy sneakers worth $1 billion later this month

Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments.&nbsp; 
 
The German sportswear brand has been in crisis with the excess stock of Yeezy branch since last October when it announced to discontinue its partnership with Kanye West after he made anti-semitic comments on social media.&nbsp; 
 
The Yeezy shoes with a value of €1.2bn (£1bn) have been sitting in storage since being withdrawn from sale. The debacle led to Adidas's first annual loss in 31 years.&nbsp;

On Thursday, Bjørn Gulden, the company’s chief executive, told investors at the group’s annual shareholder meeting that destroying the goods was not the right move and the company was working on a plan for them to be sold. It was earlier being speculated that the brand was planning to destroy the excess stock.&nbsp; 
 
He said some of the proceeds would then go to unnamed charities that represented people who “were hurt” by the comment’s made by Ye.

“Burning the goods is not the solution … What we are trying to do now over time is to sell parts of this merchandise and donate money to the organisations (that were)&nbsp;hurt by Kanye’s statements,” Gulden said. “When we will do that and how we will do that is not clear yet, but we are working on those things.” 
 
He also defended the initial decision to collaborate with West and said “As difficult as he was, he is perhaps the most creative mind in our industry.” 
 
It is now being estimated that the company would mitigate a potential €500m hit to operating profits as a result of ditching Yeezy. 
&nbsp;

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Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments.

Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments. The German sportswear brand has been in crisis with the excess stock of Yeezy branch since last October when it announced to discontinue its partnership with Kanye West after he made anti-semitic comments on social media. The Yeezy shoes with a value of €1.2bn (£1bn) have been sitting in storage since being withdrawn from sale. The debacle led to Adidas's first annual loss in 31 years. On Thursday, Bjørn Gulden, the company’s chief executive, told investors at the group’s annual shareholder meeting that destroying the goods was not the right move and the company was working on a plan for them to be sold. It was earlier being speculated that the brand was planning to destroy the excess stock. He said some of the proceeds would then go to unnamed charities that represented people who “were hurt” by the comment’s made by Ye. “Burning the goods is not the solution … What we are trying to do now over time is to sell parts of this merchandise and donate money to the organisations (that were) hurt by Kanye’s statements,” Gulden said. “When we will do that and how we will do that is not clear yet, but we are working on those things.” He also defended the initial decision to collaborate with West and said “As difficult as he was, he is perhaps the most creative mind in our industry.” It is now being estimated that the company would mitigate a potential €500m hit to operating profits as a result of ditching Yeezy. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas will not burn the unsold Yeezy shoes, instead sell the stock for charity

Adidas decides to sell Yeezy shoes from the sneaker line with Ye rather than burning them proceeds of which will be donated to charity. Adidas cut ties off with rapper Ye after an antisemitic row leading to a cost crisis of $500 million for the company.

Adidas comes up with a solution for Yeezy sneaker line with Ye than burning them

Sportswear giant Adidas' much talked-about split from rapper Kanye West has come&nbsp;at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier. &nbsp; 
 
The brand suffered a loss after it ended its highly successful Yeezy line- designed in collaboration with West.&nbsp;

But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 percent in the afternoon on the Frankfurt Stock Exchange.&nbsp;

Adidas halted its tie-up with West in October 2022 after he made a series of anti-Semitic outbursts on social media.&nbsp;

The loss of Yeezy, along with falling revenues for its lifestyle brands, "are of course hurting us," said new CEO Bjorn Gulden in a statement.&nbsp;

But there was no news Friday about what it would do with its huge stock of Yeezy trainers.&nbsp;

"The options are narrowing," Gulden told reporters after the results were released, but finding a solution will take time as there are "so many interested parties".

The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory.

- 'Bumpy year' - 
 
Gulden, who took the reins of the company in January after joining from rival Puma, said time was needed to turn the company around.

"2023 will be a bumpy year with disappointing numbers, where maximising our short-term financial results is not our goal," he said.&nbsp;

The impact of the end of the West tie-up was most clearly felt in North America, where sales plummeted 20 percent during the quarter.&nbsp;

The company also did not do good business in China, a key market for Adidas. The market has been affected by lengthy Covid lockdowns. Adidas, though, witnessed gains in Latin America and other parts of the Asia-Pacific. 
But net sales came in almost flat at 5.28 billion euros, against market expectations for a fall, and Gulden said the quarter ended a "little better than we had expected".&nbsp;

He pointed to positive developments in some areas, such as in the popularity of its Samba, Gazelle and Campus trainers. 
 
(With agency inputs)

Sportswear giant Adidas' much talked-about split from rapper Kanye West has come at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier.

Sportswear giant Adidas' much talked-about split from rapper Kanye West has come at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier. The brand suffered a loss after it ended its highly successful Yeezy line- designed in collaboration with West. But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 percent in the afternoon on the Frankfurt Stock Exchange. Adidas halted its tie-up with West in October 2022 after he made a series of anti-Semitic outbursts on social media. The loss of Yeezy, along with falling revenues for its lifestyle brands, "are of course hurting us," said new CEO Bjorn Gulden in a statement. But there was no news Friday about what it would do with its huge stock of Yeezy trainers. "The options are narrowing," Gulden told reporters after the results were released, but finding a solution will take time as there are "so many interested parties". The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory. - 'Bumpy year' - Gulden, who took the reins of the company in January after joining from rival Puma, said time was needed to turn the company around. "2023 will be a bumpy year with disappointing numbers, where maximising our short-term financial results is not our goal," he said. The impact of the end of the West tie-up was most clearly felt in North America, where sales plummeted 20 percent during the quarter. The company also did not do good business in China, a key market for Adidas. The market has been affected by lengthy Covid lockdowns. Adidas, though, witnessed gains in Latin America and other parts of the Asia-Pacific. But net sales came in almost flat at 5.28 billion euros, against market expectations for a fall, and Gulden said the quarter ended a "little better than we had expected". He pointed to positive developments in some areas, such as in the popularity of its Samba, Gazelle and Campus trainers. (With agency inputs)

Adidas posts loss as Kanye West split 'hurts' business

Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales.&nbsp;The sportswear giant is now saying that the ending of the collaboration is "hurting" the business, costing it $441 million (€400&nbsp;million) in lost sales, according to reports.

In the first three months of the year, the company's&nbsp;total revenue fell by 1 per cent because it distanced itself from the rapper&nbsp;after his largely condemned anti-Semitic remarks, reported BBC.&nbsp;

In its latest results, Adidas said sales in North America fell by 20 per cent as the region was particularly affected by the Yeezy split.

Adidas chief executive Bjorn Gulden told BBC that the loss of Yeezy is "of course hurting" them. And, that if it decided not to "repurpose" its remaining unsold Yeezy stock, this would hit its operating profit by $554 million (€500 million) this year.

Gulden added that&nbsp;Adidas was "getting closer and closer to making a decision" on what do to with the $1.3 billion worth of unsold Yeezy sneakers stacked up in warehouses and "options are narrowing".&nbsp;But with "so many interested parties"&nbsp;involved in the discussions, they are yet to reach a decision, as of now.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/kerala-hc-refuses-to-ban-controversial-film-the-kerala-story-rejects-pleas-589179">Kerala HC refuses to ban controversial film ‘The Kerala Story’, rejects pleas</a>

Speaking about the lawsuit filed by investors who claim Adidas didn't address the rapper's problematic behaviour for years, the company said that it rejected these "unfounded claims", adding that it would take "all necessary measures to vigorously defend" itself.

Investors alleged in the lawsuit that Adidas executives failed to limit financial losses and take precautionary measures in time.

Despite the dip, the overall sales were better than what analysts had predicted. The latest report says that sales were up 9 per cent when the impact of the Yeezy split was excluded. And, the company has reported a higher-than-expected operating profit of $66 million (€60 million).

The company cut its ties with Ye in October last year following major backlash for his anti-Semitic comments and erratic behaviour. Later, several distasteful things came to light, with some former employers accusing Ye of&nbsp;using "mind games", watching&nbsp;pornography in front of employees, and bullying.

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Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales.

Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales. The sportswear giant is now saying that the ending of the collaboration is "hurting" the business, costing it $441 million (€400 million) in lost sales, according to reports. In the first three months of the year, the company's total revenue fell by 1 per cent because it distanced itself from the rapper after his largely condemned anti-Semitic remarks, reported BBC. In its latest results, Adidas said sales in North America fell by 20 per cent as the region was particularly affected by the Yeezy split. Adidas chief executive Bjorn Gulden told BBC that the loss of Yeezy is "of course hurting" them. And, that if it decided not to "repurpose" its remaining unsold Yeezy stock, this would hit its operating profit by $554 million (€500 million) this year. Gulden added that Adidas was "getting closer and closer to making a decision" on what do to with the $1.3 billion worth of unsold Yeezy sneakers stacked up in warehouses and "options are narrowing". But with "so many interested parties" involved in the discussions, they are yet to reach a decision, as of now. Also read: Kerala HC refuses to ban controversial film ‘The Kerala Story’, rejects pleas Speaking about the lawsuit filed by investors who claim Adidas didn't address the rapper's problematic behaviour for years, the company said that it rejected these "unfounded claims", adding that it would take "all necessary measures to vigorously defend" itself. Investors alleged in the lawsuit that Adidas executives failed to limit financial losses and take precautionary measures in time. Despite the dip, the overall sales were better than what analysts had predicted. The latest report says that sales were up 9 per cent when the impact of the Yeezy split was excluded. And, the company has reported a higher-than-expected operating profit of $66 million (€60 million). The company cut its ties with Ye in October last year following major backlash for his anti-Semitic comments and erratic behaviour. Later, several distasteful things came to light, with some former employers accusing Ye of using "mind games", watching pornography in front of employees, and bullying. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas suffers major loss post Kanye West, Yeezy split; sales cut by $441 million in Q1

<a href="https://www.wionews.com/entertainment/hollywood/news-kim-kardashian-paying-for-her-childrens-security-after-kanye-west-reveals-name-of-their-school-524712">Kanye West</a> has been under fire for a lot of things, and he just landed in hot water regarding a new one. In a video he himself shared on YouTube, West appears to be recording the events of his day. The video starts with the recreation of a third-person adventure video game like 'Grand Theft Auto' series. After a ride in a car, West meets executives from Adidas as per reports (it does appear to be a business meeting) and then proceeds to show them porn on his phone. "Is that a porn movie?" one of the men asks him, to which Kanye answers "yes" enthusiastically. "Come on, man," another groans, trying to put the rapper's arm away. Mercifully, the faces of the men are blurred.&nbsp;

But the men do look uncomfortable and are clearly also afraid to offend West. The reason for this, if there can be a valid reason, is not known. Perhaps the rapper was trying to make a point about how he is being treated by Adidas, a company along with clothing brand Gap with whom he has had a falling out recently. He has accused Adidas of stealing his ideas.

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-kanye-west-makes-anti-semitic-comments-spouts-conspiracy-theories-in-unaired-footage-from-recent-interview-524646">Kanye West makes anti-Semitic comments, spouts conspiracy theories in unaired footage from recent interview</a>

After the bizarre act, West sits on the stool and says, "You guys have done wrong by the company, by the business, and by the partnership.”

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/_dw7JafNGdY" title="YouTube video player" width="560"></iframe>

He added, “The whole concept of this video is that the guy had cheated. So, then the girl was like, ‘Well, I'm gonna do the thing that is your worst nightmare.’ This is your worst nightmare. Your worst nightmare is not me hitting you. Your worst nightmare is not me playing the porn. Your worst nightmare is not me screaming. We’ve done all this."

“What you’re feeling right now is extreme discomfort, and that is exactly the point. Because when someone steals this man’s ideas, his creations — it’s like you’re stealing a child. These are all children of his mind, and you’ve kidnapped them," he went on.

The netizens, including West's fans, are outraged and horrified at his behaviour. One wrote, "Kanye showing one of the adidas executives porn to try and explain a point is… what timeline are we in?"

One former NBCUniversal executive tweeted, "Kanye West posts video of business meeting with Adidas executives where he shows them a porn video, and acts belligerent. Anyone else who did this at a business meeting would have been kicked out of the meeting, out of the building. Why does anyone do business with West?"

However shocking this might be, it is nothing compared to what West has pulled off recently. He wore a 'White Lives Matter' shirt at Paris Fashion Week and tweeted out a statement deemed to be anti-Semitic.

Kanye West has been under fire for a lot of things, and he just landed in hot water regarding a new one. In a video he himself shared on YouTube, West appears to be recording the events of his day.

Kanye West has been under fire for a lot of things, and he just landed in hot water regarding a new one. In a video he himself shared on YouTube, West appears to be recording the events of his day. The video starts with the recreation of a third-person adventure video game like 'Grand Theft Auto' series. After a ride in a car, West meets executives from Adidas as per reports (it does appear to be a business meeting) and then proceeds to show them porn on his phone. "Is that a porn movie?" one of the men asks him, to which Kanye answers "yes" enthusiastically. "Come on, man," another groans, trying to put the rapper's arm away. Mercifully, the faces of the men are blurred. But the men do look uncomfortable and are clearly also afraid to offend West. The reason for this, if there can be a valid reason, is not known. Perhaps the rapper was trying to make a point about how he is being treated by Adidas, a company along with clothing brand Gap with whom he has had a falling out recently. He has accused Adidas of stealing his ideas. Also Read: Kanye West makes anti-Semitic comments, spouts conspiracy theories in unaired footage from recent interview After the bizarre act, West sits on the stool and says, "You guys have done wrong by the company, by the business, and by the partnership.” He added, “The whole concept of this video is that the guy had cheated. So, then the girl was like, ‘Well, I'm gonna do the thing that is your worst nightmare.’ This is your worst nightmare. Your worst nightmare is not me hitting you. Your worst nightmare is not me playing the porn. Your worst nightmare is not me screaming. We’ve done all this." “What you’re feeling right now is extreme discomfort, and that is exactly the point. Because when someone steals this man’s ideas, his creations — it’s like you’re stealing a child. These are all children of his mind, and you’ve kidnapped them," he went on. The netizens, including West's fans, are outraged and horrified at his behaviour. One wrote, "Kanye showing one of the adidas executives porn to try and explain a point is… what timeline are we in?" One former NBCUniversal executive tweeted, "Kanye West posts video of business meeting with Adidas executives where he shows them a porn video, and acts belligerent. Anyone else who did this at a business meeting would have been kicked out of the meeting, out of the building. Why does anyone do business with West?" However shocking this might be, it is nothing compared to what West has pulled off recently. He wore a 'White Lives Matter' shirt at Paris Fashion Week and tweeted out a statement deemed to be anti-Semitic.

Kanye West courts another controversy, shows porn to Adidas execs in a business meeting. Watch

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